US Jobless Claims beat consensus, lowest since May

In a sign of improvement for the labor market, initial jobless claims fell substantially in the September 4 week. Claims came in at 451,000 vs. 478,000 in the prior week (revised from 472,000). The 451,000 level is the lowest since July and the second lowest since May. The Labor Department told Market News International that nine states had to be estimated due to delays tied to the holiday shortened week, but the government stressed that data since received confirm the improvement. The four-week average fell nearly 10,000 to 477,750 and is only slightly higher than a month-ago.

Continuing claims show only fractional change for a second week, at 4.478 million in data for the August 28 week with the four-week average at 4.488 million, the latter down mildly from the month-ago reading. The unemployment rate for insured workers is unchanged at 3.5 percent. The impact of today’s report on the market will be limited by uncertainty over the impact of heading into the holiday shortened week, yet the improvement, if confirmed or even extended in next week’s report, would begin to raise expectations for payroll expansion. Stock futures are moving slightly higher.

Initial jobless claims for the August 28 week declined 6,000 to 472,000 from a revised 478,000 in the prior week. The numbers are still high but still notably below the 2010 peak of 504,000 the week before that. Continuing claims fell 23,000 to 4.456 million in data for the August 21 week. The decline in continuing claims reflects both hiring and unfortunately also the expiration of benefits.

The complete set of IMF Direction of Trade Statistics and IMF International Financial Statistics are available free via the Economic and Social Data Service, which requires using you university/college username and password (you will have to register first: details are given on the site)

This is a US government site, but it gives international as well as US data.

Archives

Archives

DISCLAIMER

The statements, opinions and analyses presented in the articles and newsletters on this website are provided as a general information and education service only. Opinions, estimates and probabilities expressed herein constitute the judgment of the author as of the date indicated and are subject to change without notice. Nothing contained in this website is intended to be, nor shall it be construed as, investment advice, nor is it to be relied upon in making any investment or other decision. Prior to making any investment decision, you are advised to consult with your broker, investment advisor or other appropriate tax or financial professional to determine the suitability of any investment. Neither Wealthson nor Hitesh Anand shall be responsible or have any liability for investment decisions based upon, or the results obtained from, the information provided.